Family CFO Inc Lowers Position in Bloom Energy Corporation (NYSE:BE)

Family CFO Inc reduced its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,173 shares of the company's stock after selling 16,000 shares during the period. Bloom Energy comprises approximately 1.6% of Family CFO Inc's investment portfolio, making the stock its 13th largest position. Family CFO Inc owned 0.06% of Bloom Energy worth $2,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Palumbo Wealth Management LLC boosted its holdings in shares of Bloom Energy by 36.2% during the 1st quarter. Palumbo Wealth Management LLC now owns 16,115 shares of the company's stock valued at $317,000 after acquiring an additional 4,284 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Bloom Energy by 54.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company's stock valued at $485,000 after purchasing an additional 8,743 shares during the last quarter. Canton Hathaway LLC bought a new position in Bloom Energy in the first quarter valued at about $474,000. ORG Wealth Partners LLC acquired a new stake in shares of Bloom Energy during the first quarter valued at about $41,000. Finally, Lumbard & Kellner LLC grew its holdings in shares of Bloom Energy by 1.0% during the first quarter. Lumbard & Kellner LLC now owns 348,802 shares of the company's stock worth $6,857,000 after purchasing an additional 3,430 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Up 3.3%

BE traded up $0.71 during trading on Thursday, reaching $22.31. 4,169,010 shares of the stock traded hands, compared to its average volume of 6,222,661. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The stock's 50-day moving average is $19.43 and its 200 day moving average is $21.82. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $29.83. The stock has a market capitalization of $5.18 billion, a PE ratio of -446.11 and a beta of 3.20.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The company had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm's revenue was up 38.5% compared to the same quarter last year. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,496 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction of $29,755.44. Following the transaction, the insider now owns 229,682 shares of the company's stock, valued at $4,568,374.98. This represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the sale, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,501 shares of company stock valued at $1,236,191 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BE. Morgan Stanley dropped their price objective on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Redburn Atlantic cut shares of Bloom Energy from a "neutral" rating to a "sell" rating and decreased their price target for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Piper Sandler dropped their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a report on Friday, February 28th. Finally, HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average price target of $22.97.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.